2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
Everyone dreams of starting to work for themselves, but this, as a rule, requires large financial investments. To open your own business, you need initial capital, which, as a rule, no one has. In this case, it is most logical to apply for a loan from a financial institution.
However, banks do not always issue a loan for a business plan from scratch. However, some organizations have special programs for such borrowers.
Basic Requirements
Before you apply for a loan under a business plan, you need to carefully prepare. First of all, the representative of the bank will ask about what kind of strategy the further activity of the novice entrepreneur will be based on. The document should be prepared in as much detail as possible. The business plan for obtaining a loan contains structured information, according to which the bank can be sure of the implementation of this project.
In addition, to obtain loans of this type, collateral is required, which can be used as private property or other valuable property. You will also need to open an account with the selected bank. If the entrepreneur isthe moment of paperwork is employed, then a certificate of income will only help to get a positive answer. Of course, you can try to get a loan under a business plan without collateral, but in this case, the chance of approval of the application is significantly reduced.
It is also worth considering that such loans are issued only to those who have an impeccable credit history. In addition, loans are not issued to people who have a criminal record.
It should be borne in mind that the main criterion for issuing a loan for a business plan is the solvency of the borrower. If he has no income or any valuable property that can be pledged, it is more profitable for the bank not to take risks. Therefore, before leaving your old job, you should first consider that it may be much better to apply with a permanent place of employment.
And it is also worth considering that lending to small businesses has more stringent conditions when compared with consumer loans. Therefore, if the initial capital does not require too large an amount of money, then it may be much easier to issue a non-purpose consumer loan. Consider step-by-step recommendations that will help you get a loan for a business plan. And you should start with the most important thing.
Business plan
The fact is that, first of all, a development strategy for a new organization is needed not only for the bank, so that it makes sure that this enterprise will make a profit, but also for the novice entrepreneur himself. Without this documentit is impossible to correctly calculate and even more so justify the costs that the selected business will require.
This paper must contain at least 10 pages, which will indicate all the costs for opening a business. It is necessary to indicate the possible costs, the number of employees who will be involved in the work process, suppliers and much more. And most importantly - correctly calculate everything and back it up with real figures of the expected income.
Without studying these basics, it is very risky to apply for a business plan loan.
Availability of collateral and guarantors
This is the second point that a bank employee pays attention to when issuing such a loan. If a person has collateral, then it will become a reliable guarantee that in the event of bankruptcy of a novice businessman, all funds will be returned to the bank.
It is also worth considering that thanks to collateral, the loan rate will be significantly reduced. As collateral, you can use real estate (apartment, house or land), transport, any securities, equipment, etc.
To be sure to get a loan for a business plan, it is best to use a legal entity that will act as a guarantor.
Credit history
This is a very important nuance, since absolutely in any bank, when applying for a loan, the borrower's previous activities in relation to financial organizations are always checked. Therefore, you need to make sure that all previous loans were successfully closed for a novice entrepreneur, and no pen alties were imposed on them.
Package of documents
In addition to the business plan and basic documents confirming the identity of the borrower, it is necessary to provide absolutely all the papers that may in one way or another relate to the future project. Also, a very good help in obtaining a loan will be the availability of ready-made licenses and other permits for a certain type of activity that a person plans to engage in.
Additional documents
In addition to the basic papers, you will need to provide an internal passport of a citizen of the Russian Federation and any second document that can confirm the identity of the borrower. As a rule, TIN is used as it.
It is also desirable to provide a certificate of registration of an individual entrepreneur or an open joint stock company. An extract from the OGRYUL will be useful. However, it must be fairly fresh. Also, experts recommend registering with the tax service and obtaining a license or permit.
Choosing a bank and a lending program
Today, there are a huge number of different offers for obtaining loans of this type. Of course, each client wants to choose exactly the program that will be the most profitable.
First of all, for a loan for a business plan, you should apply to the bank in which the citizen of the Russian Federation has already opened an account or has a pension or salarycard.
When choosing a financial institution, you should pay attention to its independent rating. To do this, the easiest way is to go to the official website of RA "Expert".
Applying
When all the documents are collected and the business plan is prepared in detail, it's time to go to the official website of the selected bank and fill out an online application. Or you can contact the branch of the financial organization itself and complete all the documents personally.
The data must be specified as accurately as possible, since in the event of any mistake, a bank employee may have doubts that the borrower is trying to deceive him.
After that, the application is considered, which can take from several days to two weeks, depending on the selected bank. After that, an employee of a financial institution contacts the client and invites him to sign the contract.
Conclusion of the contract
Before signing any documents, regardless of which financial institution a novice entrepreneur applied to, he must carefully and in detail study the paper provided to him. Most of all, attention should be paid to the final interest rate on the loan. If it is not indicated, then in this case there is a big risk of overpaying twice. It is also worth paying attention to the payment schedule, which should be quite convenient and fully meet the client's capabilities.
Raising funds and starting a business
At the final stage after signingof the agreement, it remains only to receive funds to the current account or in cash. Also, many banks have an option according to which funds can be automatically transferred to the account of sellers, suppliers or any other persons involved in a particular business project.
Where is the best place to apply
According to the opinion of experienced businessmen, it is best to contact the most famous bank in the Russian Federation. More than 70% of the population use Sberbank services. In this financial institution, you can apply for a loan to both individuals and legal entities.
In addition, credit for a business plan in Sberbank is issued on very favorable terms. This financial institution has a trust program, according to which you can receive funds to open a small or medium-sized business. In this case, clients can count on a loan of up to 60 million rubles at an annual rate of 16.5%. The minimum loan amount is 30 million rubles. The bank also has other existing programs that may suit customers.
Also, many recommend applying for a loan under a business plan at Rosselkhozbank. In this case, the minimum interest rate will be 9.5%. The minimum loan is issued in the amount of 10 million rubles. The borrower has 3 years to repay the debt.
Of course, you can find other organizations that offer favorable conditions for start-up entrepreneurs. The main thing is that the selected bank is reliable.
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